SBA Communications Corp. reported revenues for the third quarter totaled $52.4 million, down from $60.8 million in third-quarter 2002. The company also released the results of a re-audit of its fiscal year 2001 and 2002 financial statements to reflect the sale of towers to...
BOCA RATON, Fla.-SBA Communications Corp. has released its third-quarter 2003 financial earnings. The company also released the results of a re-audit of its fiscal year 2001 and 2002 financial statements to reflect the sale of towers to AAT Communications Corp. and other towers held...
BOCA RATON, Fla.-SBA Communications Corp. said it will restate some financial statements from 2001, 2002 and 2003 to reflect this year's sale of towers to AAT Communications Corp. and other towers held for sale.The re-audit showed the company overstated its 2002 net loss by...
HOLLYWOOD, Fla.-Wireless carriers are going to have to fortify their networks to become increasingly reliable as more people cut the cord. Does that sound like good news for tower companies, which have been victims of carriers' tightly closed purse strings during the past year?Not...
BOCA RATON, Fla.-SBA Communications Corp. said it will restate some financial statements from 2001, 2002 and 2003 to reflect this year's sale of towers to AAT Communications Corp. and other towers held for sale.The re-audit showed the company overstated its 2002 net loss by...
NEW YORK-Bear Stearns & Co. Inc. has raised its wireless tower sector rating to "market overweight," reflecting its confidence in the industry's ability to continue financial deleveraging. The analyst firm specifically raised its rating on Crown Castle International Inc. to "outperform" and its year-end...
BOCA RATON, Fla.-Tower owner SBA Communications Corp. has reported its second-quarter 2003 financial results.The company said its total revenues for the quarter were $50.4 million, down from $63.6 million in last year's second quarter. Site leasing revenue accounted for $31.7 million, up 12.3 percent...
Second-quarter results from public tower companies reflect improved financial stability and greater optimism that cell-site additions will ramp up in the coming months. Crown Castle International Corp. released its second-quarter financials late last week. The company reported revenue of $224.2 million, down slightly from...
HOUSTON-Crown Castle International Corp. was the latest public tower company to release its second-quarter 2003 financial results.The company reported revenue of $224.2 million, down slightly from $225.5 million for the second quarter 2002. Site rental and broadcast transmission revenue accounted for $189.5 million of...
BOCA RATON, Fla.-SBA Communications Corp. announced AAT Communications Corp. will purchase 122 towers in Wisconsin for $43 million, the last chunk of the 801 towers indicated in the purchase agreement released in March. Pro forma the sale, which is expected to close by Oct....
Wireless infrastructure association PCIA is gearing up for its first industry trade show since it narrowed its focus to the tower sector last fall, but tight travel budgets will not be the only factor threatening the show's success. PCIA's Wireless Infrastructure Conference & Expo,...
Wireless tower industry stocks soared last week, with major players' shares rising above previous 52-week highs. American Tower Corp. was trading at $9.25 per share, Crown Castle International Corp. hit $7.94, SBA Communications Corp. was at $3.10 and SpectraSite Inc. was at $49.40 per...
Wireless tower industry stocks soared this week, with major players' shares rising above previous 52-week highs. American Tower Corp. was trading at $9.25 per share, Crown Castle International Corp. hit $7.94, SBA Communications Corp. was at $3.10 and SpectraSite Inc. was at $49.40 per...
BOCA RATON, Fla.-SBA Communications Corp.'s first-quarter 2003 results showed lower total revenues than the year-ago quarter, but the company's highest-ever site leasing revenues, reflecting a continuing decline in the services business. Revenue was $58.2 million, down from $63.9 million a year ago. Site leasing...
American Tower Corp.'s first-quarter 2003 results reflected a continued focus on its core rental and management operations and optimism in financial expectations for the latter half of 2003.The company reported revenues of $177.2 million, down from the $186.6 million reported a year ago, which...
BOCA RATON, Fla.-SBA Communications Corp. has received a $195 million credit facility from GE Structured Finance and affiliates of Oak Hill Advisors Inc. to refinance the existing senior credit facility of subsidiary SBA Telecommunications Inc. SBA owes $255 million under the existing facility and...
BOCA RATON, Fla.-SBA Communications Corp. has received approval to amend its $300 million senior credit facility.With the amendment, the "going concern" qualification expected from auditors on its 2002 financial statements is waived, as are certain financial covenants that were possible in the first quarter...
BOSTON-Shares of American Tower Corp. hit a new 52-week high on Thursday, trading at $6.15 by mid-day. The company's stock is up 72 percent since the end of 2002. Other tower company stocks are also up for the year, with Crown Castle International Corp....
BOCA RATON, Fla.-With its stock still floating above $1 following last week's announcement of its pending tower sale, SBA Communications Corp. has reported its fourth-quarter and year-end 2003 results. For the fourth quarter, SBA's total revenue decreased 7.3 percent to $64.1 million from the...
BOCA RATON, Fla.-Tower owner and operator SBA Communications Corp. said its chief financial officer John Marino will resign effective March 31, 2003.Merino will return to the banking industry, which he served before joining SBA in 1999. While the company searches for a successor, Pam...
BOCA RATON, Fla.-SBA Communications Corp. has reaffirmed its fourth quarter financial guidance, which it plans to officially release March 24, 2003.SBA expects to record total revenues of $63.5 million to $70 million and expects earnings before interest, taxes, depreciation and amortization, as well as...
NEW YORK-The U.S. wireless tower industry is at least 18 to 24 months away from recovery, according to a recent report from Standard & Poor's Rating Services.In its report, S&P cites financial challenges faced in 2002 by the five publicly traded U.S. tower companies,...
NEW YORK-Tower company SBA Communications Corp. has been notified by The Nasdaq Stock Market Inc. that it may be delisted from the Nasdaq National Market because its Class A Common Stock has closed below the minimum $1 per share requirement during the past 30...
BOCA RATON, Fla.-SBA Communications Corp. reported third quarter financial results in line with expectations.SBA's total revenues were up from the year ago period by 64 percent to $67 million, which the company credited to higher site leasing revenue despite lower site development revenue. Site...
